Grantsville, West Virginia Property Taxes
The median property tax rate in Grantsville, WV is 0.50%, significantly lower than both the national median of 0.99% and the West Virginia state median of 0.72%. With the median home value in Grantsville, the typical annual property tax bill amounts to $223, well below the national median of $2,690. Property taxes in Grantsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Grantsville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Grantsville or another part of Calhoun County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Grantsville, West Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$202
Ownwell’s Grantsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Grantsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grantsville to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Grantsville, West Virginia
Property taxes in Grantsville, West Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grantsville is 0.50%, which is lower than the U.S. national median of 0.99%. Local government entities within Grantsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grantsville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Grantsville's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 26147 in Calhoun County has the same median property tax rate of 0.50%. Understanding how these areas compare with Grantsville provides valuable insights into the varying tax landscape across Calhoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grantsville Tax Rate
0.50%
Average Calhoun County Tax Rate
0.50%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grantsville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26147 | 0.24% | 0.50% | 0.50% | 0.65% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Grantsville, West Virginia
In Grantsville, West Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Calhoun County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Grantsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Grantsville, the median home price is $40,300, with tax bills ranging from $130 at the 25th percentile to $505 at the 90th percentile. The zip code 26147 has both the highest and lowest median tax bill, at $223.
Property Tax Assessment Values Across Grantsville, West Virginia
Source: Ownwell
$38,700
$53,850
$69,000
Average Grantsville Assessed Value
$40,300
Average Calhoun County Assessed Value
$50,300
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grantsville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26147 | $11,460 | $23,550 | $40,300 | $67,750 | $94,440 |
Source: Ownwell
Property Tax Bills Across Grantsville, West Virginia
In Grantsville, property tax bills are calculated based on the assessed value of the home, which is a percentage of the market value. The median home price in Grantsville is $40,300. Property taxes are influenced by several factors, including the assessed value, local tax rates, and any applicable exemptions. The median property tax bill in Calhoun County, where Grantsville is located, is $223.00. For homeowners, the tax bill can vary significantly. The 25th percentile tax bill is around $130, while the 75th percentile reaches $350, and the 90th percentile can be as high as $505. These variations can impact homeowners differently, depending on their property's assessed value and eligibility for exemptions. Compared to the national median property tax rate of 0.99%, Grantsville's rates may offer some relief to homeowners, making it an attractive location for those looking to manage their property tax expenses effectively.
Average Grantsville Tax Bill
$223
Average Calhoun County Tax Bill
$231
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Grantsville, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 26147 | $56 | $130 | $223 | $350 | $505 |
Source: Ownwell